Dan Loeb’s Hedge Fund Third Point Among Those in Talks for $9.4B FTX Rescue (CoinDesk)
Sam Bankman-Fried has had discussions with Tron founder Justin Sun, rival crypto exchange OKX, Dan Loeb‘s Third Point, and a number of other investment funds as he looks to raise $9.4 billion for FTX, according to Reuters. Per the report, SBF is looking to raise about $1 billion from Sun, another $1 billion from OKX, and $2 billion from a group of investment funds, with the remainder to come from Dan Loeb’s hedge fund Third Point.
$14 Billion Investment Company Schonfeld Opens New Office In Summit (Patch.com)
SUMMIT, NJ — Schonfeld Strategic Advisors, a New York City-based hedge fund, recently opened a new office in downtown Summit. The $14 billion family office-turned-hedge fund opened its Summit office this past September, arguing that the new location provides “further access to the Tri-State area’s exceptional talent” and provides more flexibility for its employees.
Cathie Wood’s ARKK ETF Heads for Best Day Ever as Risk Assets Surge (Bloomberg)
Cathie Wood’s flagship fund is on pace to have its best day on record as riskier assets bounce following a softer-than-expectation inflation report. The ARK Innovation ETF (ticker ARKK) surged near 13% on Thursday after data showed that prices rose slower than forecast, which fueled bets that the Federal Reserve could dial back its aggressive tightening efforts. That’s good news for riskier assets that have been weighed down by the central banks rate-hiking efforts.
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Credit Hedge Fund Astra Asset Management Partners with Harland & Wolff (Hedge Week)
Astra Asset Management, a European alternative credit manager and private credit manager, has been selected as the exclusive financing partner to Harland & Wolff, the operator of one of Europe’s largest dry docks in Belfast, Northern Ireland. Over its 161-year history, Harland & Wolff has been at the forefront of the UK’s offshore and maritime engineering industry. Some of its heritage works include the construction of HMS Britannia and the Myrina; the first UK-made supertanker.
The Billionaire Winners And Losers Of The 2022 Midterm Election (Forbes)
Billionaires may be considered paragons of success, but they aren’t all wise investors—especially when it comes to politics. After all, three vied for the presidency in 2020, and none of them ended up in the White House. This year, many of the nation’s tycoons poured hundreds of millions into the battle for Congress, as well as state and local races. It’s still too soon to know exactly how all those bets will turn out, but here are some early winners and losers. Winners: George Soros: The hedge fund investor and one of his groups routed $13 million into a super-PAC supporting Democrats running for the Senate. That super-PAC’s spending in Pennsylvania paid off, as John Fetterman defeated Mehmet Oz in a critical race.
